The IRS does not grant tax exemption to organizations that do not have their programs budgeted. They require detail regarding your proposed activities to ensure you qualify as a 501(c)(3) organization.
Regarding Your Budget:
Your non-profit budget needs to balance out each year on the document you submit to the IRS. Significant profits or losses will be a point of concern with the IRS. Significant profits will prompt the IRS to assume you may be operating as a profit corporation.
To learn more and speak with a representative, please call us at (888) 381-8758. We are happy to answer any questions you may have.
